License Bond Claims Where the Bond Principal Did Not Use Its License

The Surety is often confronted with bond claims, where a license bond is in effect and where the principal did not use its license. Typically, these claims fall into three categories: The license was not yet in effect, was never in effect or was suspended or revoked; The principal operated out-of-state, where the license was … Continue reading “License Bond Claims Where the Bond Principal Did Not Use Its License”

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The Continued Expansion of the Nevada DMV License Bond Statute

In 2017, the Nevada Legislature expanded the scope of the DMV Bond Statute to cover additional statutory causes of action. Before, the bond covered breach of a consumer contract, deceptive trade practice, fraud, fraudulent representation, and statutory deceptive trade practice as defined in NRS 598. The Bond statute now also covers violations of any of … Continue reading “The Continued Expansion of the Nevada DMV License Bond Statute”

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Can they make that claim and succeed?

Claims against Nevada Contractor’s License Bonds in Cases where the Contractor did not Use his License Periodically, the surety is confronted with claims against a contractor’s license bond, although the contractor did not use his license in circumstances leading up to the claim. These claims fall essentially into three categories: The contractor did not use … Continue reading “Can they make that claim and succeed?”

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Industry Reminder: Idaho Public Contracts Bond Act

Under the Idaho Public Contracts Bond Act, Idaho Code Ann. 54–1925, et. al., written notice of a payment bond claim must be provided by a sub–subcontractor claimant within ninety days of the last labor or supply of material by the claimant.  Idaho Code Ann. 54-1927.  A lawsuit to enforce the claim must be filed within one year from the last day the claimant provided the labor or materials at issue. Id.

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Are Interest and Late Fees Recoverable Under a Nevada Contractors License Bond? 

The license bond statute specifically states that the bond is for the benefit, among others, of one who supplies “materials or equipment for the construction covered by the contract”.  NRS 624.273(1)(c).  The statute provides for the recovery of “the amount of damage the person suffered to the extent covered by the bond . . . … Continue reading “Are Interest and Late Fees Recoverable Under a Nevada Contractors License Bond? “

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They Are Claiming What?

Claims Against A Contractor’s License Bond, Where The Construction Project At Issue Is Out-Of-State, With Specific References To Nevada And Utah Law. Among the more unusual license bond claims are the ones where the contractor has a license bond in one state, and where the construction project at issue is in another state. For example, … Continue reading “They Are Claiming What?”

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The ABC’s of Evaluating Contractor’s License Bond Claims in Nevada

Contractor’s license bonds are required by statute in Nevada (NRS 624.270), and claims against the bond are also governed by statute (NRS 624.274). Therefore familiarity with those statutes is a prerequisite for evaluating a claim. Once a claim is asserted, these basic steps should be taken to assess the validity of that claim. IS THE … Continue reading “The ABC’s of Evaluating Contractor’s License Bond Claims in Nevada”

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Case Update: Preliminary Injunction and quia timet

The Faux Law Group was privileged recently to represent a surety seeking to enforce its rights for collateral security and an asset freeze based on specific performance and quia timet.  On an Emergency Motion, the United States District Court entered an order freezing the assets of the Indemnitors and ordering the posting of collateral security in … Continue reading “Case Update: Preliminary Injunction and quia timet”

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Case Update: Motor Vehicle Dealer Bond

Motor Vehicle Dealer Bond The Surety prevailed at a recent hearing before the Department of Motor Vehicles by a claimant asserting breach of contract, fraud and multiple deceptive trade practices. After the presentation of the evidence, the administrative judge held that it was in fact the claimant that breached contract and misrepresented his own status. … Continue reading “Case Update: Motor Vehicle Dealer Bond”

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Can Parties Shorten Statutory Limitation Periods?

The Holcomb Decision In Holcomb, the Nevada Supreme Court ruled that “[a] party can contractually agree to a limitations period shorter than that provided by statute in certain circumstances.” Holcomb Condo. Homeowners’ Assn., Inc. v. Stewart Venture, LLC, 300 P.3d 124 (Nev. 2013). The party can do so “as long as there exists no statute … Continue reading “Can Parties Shorten Statutory Limitation Periods?”

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